Sign In  |  Register  |  About Daly City  |  Contact Us

Daly City, CA
September 01, 2020 1:20pm
7-Day Forecast | Traffic
  • Search Hotels in Daly City

  • ROOMS:

Nio stock could more than double from here despite Q4 loss

By: Invezz
nio stock price forecast following q4 loss

Nio Inc (NYSE: NIO) could more than double from here even though it reported a sequential increase in quarterly loss on Tuesday, says Tim Hsiao – a Morgan Stanley analyst.

The bull case for $NIO

Hsiao remains super bullish on Nio stock primarily because the loss it reported for the fourth quarter today was within his anticipated range.

The analyst was also uplifted by a meaningful increase in the EV maker’s cash reserves following a $2.2 billion strategic investment from CYVN in December.

Nio Inc also improved its vehicle margin by 90 basis points on a quarter-over-quarter basis to 11.9% due to lower battery costs, as per the Q4 earnings report the New York listed firm published on Tuesday.

$NIO is down some 35% versus the start of this year at writing.

Watch here: stock has upside to $13

Hsiao stuck to his $13 price objective on Nio stock today which suggests a whopping 140% upside from here.

The electric vehicles company now forecasts 31,000 to 33,000 deliveries in its current financial quarter – also in line with Morgan Stanley’s expectations.

‼️ News: Renault announces EV slowdown!

Renault has now joined numerous other Legacy Auto companies, and won't be putting all its eggs into the EV basket, as it will continue to offer ICEs alongside EVs for the next decade …

Speaking to Automotive News Europe at the Geneva…

— Brian Basson (@BassonBrain) March 3, 2024

It is also worth mentioning here that while revenue declined and net loss widened for $NIO in its fiscal fourth quarter – both metrics were actually in the green on a year-over-year basis.

Also on Tuesday, analysts at Deutsche Bank reiterated their “buy” rating on Nio shares that, they’re convinced, could climb to $9.0 over the next twelve months. Their price objective translates to a 65% upside from here.

The post Nio stock could more than double from here despite Q4 loss appeared first on Invezz

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Copyright © 2010-2020 & California Media Partners, LLC. All rights reserved.